Canada is one of the top ten countries in which to establish a business is easy. You have numerous Entrepreneur and Investor Visa choices if you want to invest in your future and immigrate to Canada with your business enterprise.

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There are two classes of business immigrants:

• Start-up visa.

• Self-employed class.

 

Startup Visa

Canada is seeking for outstanding entrepreneurs who want to develop businesses that will help the country's economy grow while also providing jobs for its citizens. Canada's Start-Up Visa Program offers Canadian permanent residence to qualified immigrant entrepreneurs. The program targets innovative entrepreneurs and links them with private sector investors in Canada who will help establish their start-up business. 

The Start-Up Visa program is a pilot project and is set to remain open for 5 years but may be extended or become permanent if it proves to be a successful Canadian immigration program. The Canadian government will only accept up to 2750 applications per year for this Canadian immigration program.

If you are an entrepreneur with a unique business idea, you may be qualified for the start-up visa program, which allows you to move to Canada. In general, your business must be innovative, create jobs for Canadians, and be able to compete internationally. While you wait for your application’s approval, you can also apply for a temporary work permit to keep you busy in Canada. 

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Requirements: You must 

• have obtained a written commitment (Letter of Support) for a total investment of at least $75,000 by one or more designated angel investor groups, OR  investment of at least $200,000 by one or more designated venture capital funds, OR acceptance into business incubator program.

• have the commitments signed by a person with proper authority,

• have attained the language proficiency level CLB 5 +,

• have proof of funds (the appropriate funds available as designated by Statistics Canada under the Statistics Act).

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Procedure:

• You need to demonstrate that you have the support of a venture capital fund, angel investor group, or business incubator

• In order to get support of Venture Capital fund, Angel investor group or business incubator, you must pitch your business idea and convince the organization that it is worth supporting

• The process of pitching your business idea will be different for each organization

• If your pitch is successful, you will receive a letter of support from the organization which must be included in your start-up visa application

• You need to show that you have enough money to support yourself and any dependents once you arrive in Canada. The amount you need depends on the size of your family.

• Candidates with a Commitment Certificate from a designated entity can apply for a short-term work permit to begin working in the business. The designated entity must support the request.

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Qualification for Permanent Residence:

• Candidates must be actively involved in the management of the business in Canada.

• The operations of the business, or an essential part, must take place in Canada.

• The business must be incorporated in Canada.

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Important to note:

* Candidates can also qualify with two or more investments from angel investor groups totaling $75,000 OR Candidates can also qualify with two or more commitments from designated venture capital funds totaling $200,000.

* Up to 5 applicants for one business are allowed if: each holds at least 10 % voting rights and jointly with the designated organization hold more than 50 % voting rights.

*If the essential application is rejected by IRCC, the other applications will be rejected as well.

* Investment money can not be used for living.

* The Canadian government has designated associations to review the commitments between investor organizations and applicants in order to help prevent fraud and ensure the commitments are legitimate.

* Participants in this program will be able to keep their Canadian permanent residence even if their business fails.

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Designated Investor Groups for the Start-Up Visa

Below you will find a list of all Venture Capital Funds and Angel Investor Groups that have been designated to participate in this Canadian immigration program.

 

Venture Capital Funds

• BDC Venture Capital

• Blackberry Partners Fund II LP (doing business as Relay Ventures Fund II)

• Celtic House Venture Partners

  • Celtic House Venture Partners Fund III L.P.

  • Celtic House Venture Partners Fund IV LP

• DRI Capital Inc.

• Golden Opportunities Fund Inc.

• iNovia Capital Inc.

• New Brunswick Innovation Foundation Inc.

• Northwater Intellectual Property Fund

• OMERS Ventures Management Inc.

• Pangaea Ventures Fund III, LP

• PRIVEQ Capital Funds

  • PRIVEQ III Limited Partnership

  • PRIVEQ IV Limited Partnership

• Quorum Group

  • Advantage Growth (No.2) L.P.

  • Ontario SME Capital Corporation

  • Quorum Investment Pool Limited Partnership

  • Quorum Secured Equity Trust

• Rho Canada Ventures

• Summerhill Venture Partners Management Inc.

• Tandem Expansion Management Inc.

• Vanedge Capital Limited Partnership

• Version One Ventures

• Wellington Financial LP

• Westcap Mgt. Ltd.

• Yaletown Venture Partners Inc.

 

Angel Investor Groups

• Angel One Network Inc.

• First Angel Network Association

• Golden Triangle Angel Network